English
Depressed, depressing Europe – video
, 13/05/2014
In conversation with Andrew Brady of USiLive regarding the state of Europe now.
How the Greek Banks Secured an Additional, Hidden €41 billion Bailout from European taxpayers
, 11/05/2014
In 2013 Greek taxpayers borrowed from the rest of Europe’s taxpayers €41 billion to pump into the Greek banks. This is well known. What is not known is that, also in 2013/4, the Greek banks received an additional, well hidden, €41 billion bailout loan from Greek and European citizens. This bailout was never authorised by any Parliament or […]
Sleepless in Europe – in Huffington Post
, 10/05/2014
Some weeks ago I heard Arianna Huffington deliver a talk, in Austin, on sleep deprivation and the terrible decisions that it leads to. This made me recall that all the awful decisions of our European leaders (and there were so many of them) were reached at around 4.00am. I mentioned that to Arianna and she […]
Invigorated Joblessness and a Government Deficit despite growing arrears: Greece’s Non-Recovery continues
, 10/05/2014
While the international press continues to celebrate Greece’s recovery, the reality on the ground becomes bleaker, less sustainable, and nastier than ever. In this post I shall be conveying the grim news from two fronts: the labour market and the government’s finances.
DIGITAL ECONOMIES: Markets, Money and Democratic Politics Revisited
, 08/05/2014
Audio and transcript of the keynote I delivered on 5th May 2014 in Seattle in the context of the CFA Institute’s Annual Conference entitled The Future of Finance.
Interviewed by REASON magazine on virtual worlds and the future of economics
, 07/05/2014
“A Multiplayer Game Environment Is a Dream Come True for an Economist” Interview by Peter Suderman from the June 2014 issue of REASON magazine – click here for Reason’s web version. Or read on…
Europe’s slide into deflation, and what to do about it – Interviewed for Jornal de Negócios by Jorge N. Rodrigues
, 04/05/2014
Europe is in the clasps of the deflationary forces that resulted directly from its inane handling of the Eurozone crisis. In this interview, I discuss deflation and low-flation and suggest a particular form of quantitative easing that, unlike the Fed’s or the Bank of England’s QE, will not reinflate the bubbles of the financial sector but, instead, […]
EUROBANK: Another scandal re-packaged as part of the Greek Success Story
, 04/05/2014
Eurobank is an apt example of Greek ingenuity. Its name is a coup in itself.[1] Beyond semantics, however, and coming to recent developments, Eurobank is a wonderful example of the Greek establishment’s ingenious efforts to defraud Greek and European taxpayers, and then to proclaim a glorious Greek Success Story, weeks before the European Parliament elections. […]
My endorsement of Alexis Tsipras' Candidacy for the Presidency of the European Commission – video
, 01/05/2014
Over the past year I have argued that Europe needs a jolt.
‘European Progressive Policy Initiative’ endorses the Modest Proposal’s four main policies
, 01/05/2014
A group of noted international economists (including Joseph Stiglitz, Peter Bofinger and Stefanie Griffith-Jones), known as the European Progressive Policy Initiative (EPPI), has issued a policy paper that endorses the main planks of our Modest Proposal for Resolving the Euro Crisis 4.0. EPPI was assembled in 2013 by Europe’s social democratic alliance in the European […]
A rejoinder to ELSTAT's & EUROSTAT's defence of the New Greek Statistics
, 30/04/2014
ELSTAT, the official Greek statistical service, has put out a document in response to my post unveiling, what I call, their New Greek Statistics over the calculation of the Greek government’s primary budget outcome for 2013. In addition, Eurostat gave an informal response to various journalists who took the matter to them. Full marks for […]
Europe and Greece in Review: Interviewed by Michael Maier for Deutsche Wirtschafts Nachrichten
, 28/04/2014
Interviewed by Dr. Michael Maier for Deutsche Wirtschafts Nachrichten: For the interview in German, as published on the DWN site, Click here for PART A , on the Ukrainian crisis Click here for PART B, on Greece and the Eurozone For the whole interview in English,…
New Greek Statistics: Athens, again, ready to confess to the sin to claim the glory
, 27/04/2014
It is official! The Greek government now confirms that the much lauded Greek government primary surplus for 2013 was a mirage created by the return of Greek Statistics (see this recent post). And also that the statistical trickery involved had the full approval of Eurostat, of the troika, of Berlin etc. The ‘confession’ has come in the […]
James Galbraith on Piketty’s Capital in 21st Century – video/interview
, 26/04/2014
See also James Galbraith’s splendid review of T. Piketty’s ‘Capital’ here.
Interview with Der Standard: "Noch nie war Athen so bankrott wie heute"
, 25/04/2014
INTERVIEW with ANDREAS SATOR, April 25, 2014. Click here for THE STANDARD’s website or read on …
Greek statistics are back: Primary deficit presented as surplus, with Eurostat’s seal of approval
, 24/04/2014
Have you heard the one about Greece’s Eurostat-approved 2013 primary surplus? Well, you should not believe it. Here is why:
Easter wishes to all
, 20/04/2014
Who said that Easter has no significance in our cynical age, even to atheists like myself? Suffering, the sacrifice of the innocents, persecution of prophets of truth – it is all going on with a vengeance. On this note, Happy Easter to all. (The photo above was taken by Danae Stratou on the US-Mexican border […]
More on the Grand Greek De-coupling – Interviewed on RT tv
, 16/04/2014
Interviewed on RT’s Boom-Bust show on themes already covered in posts here and here.
Inequality: Should we care? A debate between Y. Brook (Ayn Rand Institute) and J. Galbraith & Y. Varoufakis (UT); 17th April at UT Austin
, 16/04/2014
Witness a dramatic battle of ideas between two internationally known speakers over the question of whether or not we should be concerned about economic inequality.
Greece’s Grand Decoupling, the Nuclear Option and an Alternative Strategy: A comment on Münchau
, 14/04/2014
In his latest Financial Times column Wolfgang Münchau concurs with much of what I have written here (on the Greek social economy’s deep coma) and here (on the reasons why investors are piling in) but goes on to suggest that Greece should seriously consider exiting the Eurozone. In today’s post I offer an evaluation of his argument. In brief, […]
The Grand Greek Paradox: Bankrupt but embraced by the money markets – On the BBC World Service
, 09/04/2014
(listen to the first story; first 15′) Greece is about to issue 5 year bonds again. Berlin, Brussels, Frankfurt and Athens are celebrating Greece’s recovery. For my part, I think (and tell the BBC World Service) that this is a sad day for Greece and it is a sad day for Europe. Why do I refuse […]
Vicious Disequilibrium, in the Los Angeles Review of Books
, 09/04/2014
Are we witnessing a new global balance? Or a new incongruity pregnant with the crisis’ next phase?
Das Kapital for the Twenty-First Century? A review of T. Piketty’s new book by James K. Galbraith
, 03/04/2014
Thomas Piketty has a new book out: Capital in the Twenty-First Century. It is an ambitious volume that sets out to explain the sources of inequality and social tensions in the context of his own anatomy of… Das Kapital. As this book is receiving a great deal of attention, a proper review is in order. Thankfully, James K. Galbraith […]
Europe’s latest policy on Irish and Greek banking losses: A tale of two swindles too similar for comfort
, 01/04/2014
The Irish and the Greeks are, in many ways, very different people. And yet, caught up in the Euro Crisis, our fortunes have become too close for comfort. Recently, European authorities have devised a creative new method for damaging the people of Ireland and of Greece further. The new method involved imposed changes on the public […]